Angela Merkel admits euro’s FAILURES as she hints at bringing Deutsche Mark BACK
UNDER FIRE German Chancellor Angela Merkel has hinted for the first time that she would favour bringing back the country’s Deutsche Mark.
By SIOBHAN MCFADYEN
Express.co.uk
Sat, Feb 18, 2017
In a telling statement issued during the visit of US vice-president Mike Pence to Munich, Frau Merkel revealed even she is becoming concerned with the European wide currency.
The 63-year-old Christian Democrats leader, who is facing being booted out of office over her failed policies, said she believed the country’s former currency would have a “different value” if it was still in place.
And she implied her country’s involvement in the single currency, which is used by 19 of the 28 member states of the European Union, is propping up less productive economies.
The future of the failing currency and the success of the European Central Bank’s (ECB) quantitative easing strategy have been called into question in recent months.
That combined with the problems plaguing Italy’s banks which are in need of bail out and a potential default in Greece are said to be causing concern particularly with ECB chief Mario Draghi.
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